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Seniors Can Reduce Tax Burden
By Donating to Charity Through Their IRA


If you have reached the age (701⁄2 years old) where you are required to take an annual Required Minimum Distribution (RMD) from an IRA, you are likely aware that those distributions are reported as taxable
income. There are a few exceptions and a qualified charitable distribution (QCD) is one of them. A QCD is a nontaxable distribution made directly by the trustee of an IRA to organizations that are eligible to receive
tax-deductible contributions. Making a QCD can benefit the taxpayer by reducing their taxable income while supporting qualifying charitable organizations of their choice. The taxpayer doesn't have to worry about meeting the standard deduction or itemizing deductions with a QCD. A QCD comes out of the IRA
non-taxed. If some or all of your annual RMD is used for charitable giving, there is a provision within the RMD allowing an individual to direct funds to qualifying charities. As a 501(c)3, Bloomin’ Boutique qualifies as one of these charities.

 

We are grateful for the numerous donors supporting our efforts and realize that donations come in all forms and sizes. By directing any or all of your annual RMD to Bloomin’ Boutique, you will be supporting local children in need. As a volunteer run organization, over 94% of all donated funds go directly to supporting our mission. Your financial advisor or tax professional can review possible advantages and handle the process of using a QCD.

 
Thanks for your consideration,

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